MAA Group Bhd (1198) Finance – RM0.555.
The principal activities of the Group consist of general and life insurance business, investment holding, hire purchase, leasing and other credit related activities
below: MAA Daily Chart (click to enlarge)
MAA‘s candles have been on the rise this week to clear out the RM0.525 to near the RM0.55 level. Institutions were seen picking up the stock judging by the abnormal jump in volume momentum. The rises have also resulted in its momentum indicators springing up with the stochastic already above the upper limit.
With no signs of weakening as yet, the upsides look to sustain for the near term. Consequently, there are Trading Buy opportunities so long as the candles stay above the RM0.525 level. Apart from the RM0.565 resistance, the other resistance is RM0.595.
by Mercury Securities
